Long Side Trades Ruled The Day But What About The Bigger Picture? Here It Is.

Welcome back everyone! I have a special edition of tonight’s video for you. There is a great mentorship group here today!

We had a big fat Doji star back to back on the S&P. That is a period of indecision. We had a Doji star back to back on the DOW. That means the DOW and S&P and NASDAQ actually had those. All that means is that we are roughly equally off the highs and lows. We are just stuck in the middle.

We had some consolidation bars and that led to some great breakouts on Friday. Now we are hitting some major resistance on the NASDAQ. We are going to talk about that more in just a moment. I am going to be watching the RUSSELL, Goldman Sachs, and some of the key tech stocks.

You are going to notice we one of my Trader Rescue Package buy signals fire off. That went allowed us to have a really nice continuation to the upside. It hit target number one and two. That was after a consolidation as well. We like to see that as well. I also then look for it to pull back above. If it hits target two it could signal a continuation run. That was the exact strategy I was using today.

The preferred trade of choice at this time is to the long side from my perspective. We have the rising end of day basis here. We also have the rising support underneath as well. We ended up holding those. I would like to hold those going into tomorrow or have an early morning pull back that reverses and takes off. That is effectively another run along the lines of this. We are obviously going to have some Chinese and trade relation news. There are lot of things that can move the markets. The preferred trade of choice is long.

From an end of day basis, we still have some other things to watch. I told you about the NASDAQ. You saw that the NASDAQ is at key resistance. I want to show you something else that you can use here. You can go to www.wealth365.com to see these great tools. We want to avoid the ones that are around the 150 area. That is going to be just noise and much. I want to look for the ones pushing out of the range. Instead of being at the 150 level, NASDAQ fired off a buy signal in an uptrend. I want to see it break above sell signals for longs and fire off fresh buy signals. That is especially true when the numbers push above the 150 level on the WSI.

You can see that Netflix is doing really well here. I have pointed that out in the previous nightly videos as well. You can see that tool at www.wealth365.com. There are so many other features and articles here as well.

Amazon and Facebook are sitting around the 150 level. Facebook is just lackluster right now and doesn’t have the energy to continue. Amazon is just chopping back and forth. You can see why those two are around the 150 level. Netflix crawled out of that hole a while ago. You can see how the WSI numbers are an important piece to the process. That was an important tool that I wanted to share with you.

You can go to www.becomeabettertrader.com/class you can sign up for a free class. At the Wealth365 Summit I gave a 2 hour presentation. There were so many more things I wanted to share on that day. I didn’t have the chance to finish it all. We are going to be doing an extended encore this Friday morning. That is at 10:00 AM CT / 11:00 AM ET. I am going to be sharing several strategies for day and swing trading. That will really tie in nicely with some of the things I have been teaching you here. I want to make sure I can share some great strategies with you guys! You can sign up now at www.becomeabettertrader.com/class. That will be for both day and swing traders. There will be much more time to go over things that I couldn’t get to since I got cut off. This is going to be very special!

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